BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Capstone Green Energy Corporation (“Capstone” or the “Company”) (NASDAQ: CGRN) investors concerning the Company’s possible violations of federal securities laws.
On September 15, 2023, Capstone disclosed that it would be unable to file its Annual Report for the year ended March 31, 2023 on time. On this news, Capstone’s stock price fell $0.06, or 8.9%, to close at $0.6196 per share on September 18, 2023, thereby injuring investors.
Then, on September 22, 2023, Capstone disclosed that, as a result of errors related to revenue recognition associated with bill and hold transactions, certain previously issued financial statements were materially incorrect, should no longer be relied upon, and would need to be restated.
On September 28, 2023, Capstone announced that it had declared Chapter 11 bankruptcy.
Then, on October 3, 2023, Capstone disclosed that it had entered into a Material Definitive Agreement and Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On this news, Capstone’s stock price fell $0.1852, or 37.4%, to close at $0.31 per share on October 3, 2023, thereby injuring investors further.
If you purchased Capstone securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
